When GLICs question their legacy PE/VC bets
Making sense of the looming sell-down.
It’s Friday! And we have some government-linked updates in private equity and venture capital.
Before I get to it, the usual ICYMIs:
The Malaysianist runs on subscriptions. Fuel up with a monthly, annual or founding member plan.
P.S. The founding member tier doesn’t have a ceiling; you can go as high as you want — it’s the ultimate supporter badge.
And, yes, you can upgrade subscription tiers at any time.
Mulling a group purchase for family, friends and colleagues? I’ve got you. Group subscriptions come with discounts, too.
Malaysia’s government-linked investment companies have joined a wider global trend — offloading parts of their secondaries portfolios.
Instead of waiting for elusive IPOs or trade sales, they’re looking to sell stakes in existing private equity (PE) and venture capital (VC) funds — and the companies inside them — to other investors.
Two GLICs are reportedly in the market, while a third is taking a contrarian tack as a buyer of secondaries and a fourth has indicated it doesn’t intend to join the selling spree.
We’ll start with sovereign wealth fund Khazanah Nasional, where there’s the most visibility, then move down the list and close with what this secondaries wave really tells us.